200 Cleveland Rd

Chinook, MT 59523

$85,000B-

2 bd · 1.0 ba · 1,449 sqft · Built 1909 · SingleFamily · Active · 463 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,133/mo
• Mortgage (P&I): −$446
• Tax + insurance: −$186
• HOA: −$0
• Vac / Maint / Mgmt: −$238
• Net cashflow: $263/mo
• Annual: $3,160/yr
• Cap rate: 10.01%
• Cash-on-cash: 13.28%
• DSCR: 1.59
• 1% rule: 1.33%
• Cash to close: $23,800

Investor read

• This is a 2-bed/1.0-bath single-family listed at $85k.
• At list price, monthly cash flow is $263 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $85k).
• It's been on market 463 days — a 12% lower offer ($75k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $75k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-1.8%/yr); year-one equity from $588 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 73/100 on livability (#44 in MT) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools C-, crime C-, employment D+.
• Chinook H S (rural): math 0% / reading 21% proficiency, ranked #278 of 339 in MT (top 82%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Watch-outs: built in 1909 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 22 active listings in the ZIP.
• Blaine County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 12 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• At projected returns (-1.8% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~8 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 463 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1909 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
• What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
• How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.